Indo Count industries' profits increased two-fold

The Textile and Electronic product manufacturer, Indo Count Industries has announced strong Q4FY16 results on Friday with a two-fold increase in its year on year net profits.  Recently the company board has given approval for the CAPEX plan estimated at Rs 300 crore, funded by internal accruals and debt.

Indo Count has reported a rise in its standalone total income from operations to Rs 525.03 crore in Q4FY16 as against Rs 502.62 crore in the last quarter, an increase of 7.2 per cent. EBITDA has risen 7.3 per cent at Rs 116.31 crore as against Rs 108.38 crore in the last quarter. Company’s Net Profit has come in at Rs 65.98 crore as against Rs 63.43 crore, an increase of 4 per cent.

The Year on Year (YOY) results are excellent, wherein company’s standalone total income from operations has increased by 15 per cent from Rs 456.68 crore in the same quarter last year. EBITDA of company has risen by 33.5 per cent from Rs 87.1 crore. YoY Net profit (PAT) has seen an exceptional increase of 135 per cent from Rs 28.08 crore.

On a yearly basis Indo Count has posted standalone revenues from operations of Rs 2070.78 crore for the year ended March 2016 compared to Rs 1679.95 crore in March 2015, an increase of 23.3 per cent. Net profit too has risen from Rs 139.04 crore in FY15 to 250.71 crore in FY16, an increase of 80.3 per cent.

Indo Count Industries deals in the manufacture and export of cotton yarn, grey knitted fabrics and cotton made ups. The company also operates in consumer durables and electronic goods apart from textiles. The Company’s home textile division manufactures bed sheet sets, pillow cases, duvet covers, bed skirts, comforters, window covering and institutional linen.

The stock closed flat at Rs 981.7 on the day of result i.e. Friday, 6th May.